Walmart raises outlook as consumers spend more on nonessentials, order more deliveries

Walmart, on Tuesday, raised its outlook for the year after benefiting from increased spending on nonessential items and an uptick in pick-up and delivery orders. 

The company – the largest U.S. retailer and a key indicator of U.S. consumer sentiment – forecast net sales to grow between 4.8% and 5.1%, up from its prior forecast of 3.75% to 4.75% sales growth.

It also continues to get a significant boost from higher earners.

"We had a strong quarter, continuing our momentum," Walmart...